Vital Football

Chainrai taking control confirmed and Azougy OUT!

Chainrai taking control confirmed and Azougy OUT!

Pompey have now officially confirmed that Balram Chainrai has taken, or seized, control of the club as well as confirming that Daniel Azougy will have NO involvement with the club any longer.

An adjournment to next weeks HMRC winding-up hearing has been requested too.

The following statement was issued on The Pompey Site...

PLAY UP POMPEY!

Portsmouth Football Club Statement

Balram Chainrai has exercised a clause in the security arrangement with Falcondrone Ltd to take a controlling interest in Portsmouth Football Club.

Mr Chainrai wishes to stabilise the club's situation until new owners for the club are found.

The security arrangement with Falcondrone Ltd is based on documents drawn up by Fuglers law firm as part of the original draw down of the loan, depositing with Mr Chainrai the original share certificate and a signed but undated share transfer in favour of Mr Chainrai, which could be dated and exercised in the event of default on the terms of the loan agreement.

Peter Storrie continues as the chief executive officer of the club and continues to run the club. Meanwhile new owners are being found for the long-term future of the club.

The club will now apply to HMRC to adjourn next week's winding-up hearing to allow time for the club to be stabilised and new owners found.

New directors will be appointed to the board and Daniel Azougy will no longer be involved with any part of the club.

The importance and priority is to stabilise the business and give the players, staff and fans of Portsmouth FC confidence that the club will go forward.


Bookmark and Share


Join the Vital Pompey Debate

Win FREE pizza with Vital Football!
Select your team and get 50% off if they score twice.
www.papajohns.co.uk/football



Click here to join in the debate on the club forum.

Writer:pompeyrug
Date:Thursday February 4 2010
Time: 5:04PM

Comments

0
Best bit is the back of Azougy
paultsmouth
04/02/2010 17:09:00
0
is this a ray of sunshine?????? Or another false dawn????? whichever it is another chapter to throw into the good book, Glad to see the back of Azougy which ever way you look at things!!!
NZ_Portsmuff
04/02/2010 17:15:00
0
Hmmm, still too circular for my liking. The links between Sacha's old man, the lawsuit for 17m, the loan of 17m, the default on that loan allowing seizure of the club? Who would bet against the full circle being that Sacha buys the club back? Only my imagination I know, based upon no fact and no accusation being made but would make a great story wouldn't it.
wakey
04/02/2010 17:17:00
0
like i've said elsewhere, this has to be good news - if only becuase it couldn't possibly have got any worse!
pompeycarpet
04/02/2010 17:18:00
0
well no more azougy = fantastic news, and hopefully he will stabilise the club and it will give us a bright future to look forward to, instead of all this new pompey stuff which was fine but lets face it, it was no Pompey ;D PUP
pompeym@
04/02/2010 17:23:00
0
I can't keep up, but am battle weary enough to think that this isn't the end and is not necessarily good news.
UKTony
04/02/2010 17:27:00
0
A good start that they are communicating through the official site! Also, he surely has to do some good to protect his investment!?
dazza0410
04/02/2010 17:34:00
0
Easy way out for "Al-Mirage", me thinks. I hope now he ****s off and stays well away. Bloody jaffa.
.Andrew.
04/02/2010 17:56:00
0
Please no, they have put Storrie back in charge and asked him to find new owners. Would you buy a new owner from this bloke? You are supposed to learn from your mistakes, ChaInrai what is going on? Are you MAD. Then to cap it all, we can't score on the pitch, then Avram gets caught going to a Brothel. See the headlines tomorrow. What is up with these people, can't they make a rational decision between them. I suppose Avram was mentored by John Terry for this stupidity.
Mike1954
04/02/2010 17:59:00
0
On top of all that we know that at least one person involved with the team can score in a brothel :-) singing you can score in a brothel grant can score in a brothel and so on
russellm
04/02/2010 18:01:00
Page 1/3
  1. 1
  2. 2
  3. 3

Login to post a comment

Recent Portsmouth Articles

On this day in history...1st May

A look back at this day in history, and what was happening with Pompey courtesy of our sister site PompeyRama, 1st May.

Sunday Chimes #77 - It will be Plymouth in playoff

Three more points but automatic promotion hope dashed, players join the fans, book review and meet the butcher..

Audio - Cook On Hartlepool Win

Manager Paul Cook has given his thoughts following victory over Hartlepool United today.

Stats: Hartlepool United v Portsmouth

All the stats from Hartlepool United (0) vs (2) Portsmouth, Victoria Park, 30/4/16 Att: 5,046

Archived Vital Pompey Articles

Vital Pompey articles from

Site Journalists

pompeyrug
Editor email
Profile
eastneydave
Editor email
Profile
paultsmouth
no email
Profile
Chix
no email
Profile

Current Poll (see more polls)

Hartlepool MotM
Suggested By: Site Staff
Murphy70%
Stevens0%
Burgess12%
Barton0%
Freeman0%
Doyle0%
Hollands0%
Naismith6%
Roberts6%
Evans0%
Smith6%
Sub - McGurk0%
Sub - Chaplin0%
Sub - Whatmough0%
ScoopDragon Publishing Entire League Network of Sites

League Table

# Team P W D L Pts. GD
C Northampton 45 28 12 5 96 35
2 Accrington 45 24 12 9 84 26
3 Oxford 45 23 14 8 83 40
4 Bristol Rovers 45 25 7 13 82 30
5 Portsmouth 45 21 15 9 78 32
6 Plymouth 45 23 9 13 78 21
7 Wimbledon 45 20 12 13 72 13
8 Cambridge 45 18 13 14 67 11
9 Leyton Orient 45 18 12 15 66 -2
10 Wycombe 45 17 13 15 64 4
11 Exeter 45 17 13 15 64 1
12 Carlisle 45 16 16 13 64 0
13 Mansfield 45 17 12 16 63 8
14 Luton 45 18 9 18 63 -1
15 Barnet 45 16 11 18 59 -4
16 Hartlepool 45 15 6 24 51 -18
17 Notts County 45 14 9 22 51 -24
18 Yeovil 45 11 15 19 48 -15
19 Stevenage 45 11 14 20 47 -15
20 Crawley 45 13 8 24 47 -30
21 Morecambe 45 12 9 24 45 -22
22 Newport 45 10 13 22 43 -20
R Dag & Red 45 8 10 27 34 -34
R York 45 7 12 26 33 -36
Latest F1 News
Latest Vital Boxing News

Recent Portsmouth Results (view all)

Portsmouth Fixtures (view all)

May 7 2016 3:00PM : Northampton Town (H)
Sky Bet League Two

Vital Members League Table

RankNamePoints
1.FrattonBlue2
2.eastneydave2
3.Emsworthianblue1
4.Copnor431